Nice work if you can get it.
Bloomberg News reports that billionaire Steve Schwarzman dominates Wall Street with his annual payouts, collecting $787m last year. He turned around and put a quarter of that back into Blackstone Group.
The asset manager disclosed Thursday that its co-founder, 71, invested $196.6 million in Blackstone funds during 2017.
That compares with the $161.8 million that Carlyle Group LP’s Bill Conway invested in his firm’s offerings, $43.3 million by KKR & Co.’s Henry Kravis and $15 million by Apollo Global Management LLC’s Marc Rowan.
Bloomberg News reported last month that KKR & Co.’s Henry Kravis took home $169.7 million last year, while fellow co-founder George Roberts topped that with $173.1 million.
Each of the two, who are cousins, earned a $300,000 salary and about $67.8 million in carried interest, or his share of investment profits, according to New York-based KKR’s annual report filed in February. Much of the windfall came in dividends, with each taking home more than $56 million.